Quick Navigation: Resources by Topic Business
& Economy Education
Environment
Food
& Drugs Grants
& Awards Health
& Safety Military
& Security Science
& Technology Social
Programs Transportation

Site
Search:
advanced

•

Browse

•

Simple
Search

•

Advanced Search

*
Boolean

* Proximity

•

Search
History

•

Search
Tips

•

Corrections

•

Latest
Updates

•

User
Info

•

FAQs

•

Agency
List

•

e-CFR
Main Page

•

Code of Federal
Regulations

•

Federal
Register

•

List of
CFR
Sections Affected

•

Regulations.gov

•

Unified
Agenda

•

All NARA
Publications

Ben's
Guide
to U.S.
Government

Home
Page > Executive
Branch > Code of
Federal Regulations > Electronic Code of Federal
Regulations

e-CFR
Data is current as of January 28, 2008

Title 12:
Banks and Banking

Browse
Previous | Browse
Next

PART 516—APPLICATION PROCESSING PROCEDURES

Section Contents
§ 516.1   What
does this part do?
§ 516.5   Do
the same procedures apply to all applications under this
part?
§ 516.10   How
does OTS compute time periods under this part?

Subpart
A—Pre-Filing and Filing Procedures

Pre-Filing
Procedures
§ 516.15   Must
I meet with OTS before I file my application?
§ 516.20   What
information must I include in my draft business plan?
§ 516.25   What
type of application must I file?
§ 516.30   What
information must I provide with my application?
§ 516.35   May
I keep portions of my application confidential?
§ 516.40   Where
do I file my application?
§ 516.45   What
is the filing date of my application?
§ 516.47   How
do I amend or supplement my application?

Subpart
B—Publication Requirements
§ 516.50   Who
must publish a public notice of an application?
§ 516.55   What
information must I include in my public notice?
§ 516.60   When
must I publish the public notice?
§ 516.70   Where
must I publish the public notice?
§ 516.80   What
language must I use in my publication?

Subpart
C—Comment Procedures
§ 516.100   What
does this subpart do?
§ 516.110   Who
may submit a written comment?
§ 516.120   What
information should a comment include?
§ 516.130   Where
are comments filed?
§ 516.140   How
long is the comment period?

Subpart
D—Meeting Procedures
§ 516.160   What
does this subpart do?
§ 516.170   When
will OTS conduct a meeting on an application?
§ 516.180   What
procedures govern the conduct of the meeting?
§ 516.185   Will
OTS approve or disapprove an application at a meeting?
§ 516.190   Will
a meeting affect application processing time frames?

Subpart
E—OTS Review

Expedited
Treatment
§ 516.200   If
I file a notice under expedited treatment, when may I engage in the
proposed activities?

Standard
Treatment
§ 516.210   What
will OTS do after I file my application?
§ 516.220   If
OTS requests additional information to complete my application, how will
it process my application?
§ 516.230   Will
OTS conduct an eligibility examination?
§ 516.240   What
may OTS require me to do after my application is deemed
complete?
§ 516.250   Will
OTS require me to publish a new public notice?
§ 516.260   May
OTS suspend processing of my application?
§ 516.270   How
long is the OTS review period?
§ 516.280   How
will I know if my application has been approved?
§ 516.290   What
will happen if OTS does not approve or disapprove my application within
two calendar years after the filing date?

Authority:   5 U.S.C. 552, 559; 12
U.S.C. 1462a, 1463, 1464, 2901 et seq.

Source:   57 FR 14336, Apr. 20, 1992,
unless otherwise noted.

§ 516.1   What does this part do?

top

(a) This part explains OTS procedures for processing applications,
notices, or filings (applications). Except as provided in paragraph (b) of
this section, subparts A and E of this part apply whenever an OTS
regulation requires any person (you) to file an application with OTS.
Subparts B, C, and D, however, only apply when an OTS regulation
incorporates the procedures in the subpart or where otherwise required by
OTS.

(b) This part does not apply to any of the following:

(1) An application related to a transaction under section 13(c) or (k)
of the Federal Deposit Insurance Act, 12 U.S.C. 1823(c) or (k).

(2) A request for reconsideration, modification, or appeal of a final
OTS action.

(3) A request related to litigation, an enforcement proceeding, a
supervisory directive or supervisory agreement. Such requests include a
request seeking approval under, modification of, or termination of an
order issued under part 508 or 509 of this chapter, a supervisory
agreement, a supervisory directive, a consent merger agreement or a
document negotiated in settlement of an enforcement matter or other
litigation, unless an applicable OTS regulation specifically requires an
application under this part.

(4) An application filed under an OTS regulation that prescribes other
application processing procedures and time frames for the approval of
applications.

(c) If an OTS regulation for a specific type of application prescribes
some application processing procedures, or time frames, OTS will apply
this part to the extent necessary to process the application. For example,
if an OTS regulation for a specific type of application does not identify
time periods for the processing of an application, the time periods in
this part apply.

[66 FR 13000, Mar. 2, 2001]

§ 516.5   Do the same procedures apply to all
applications under this part?

top

OTS processes applications under this part using two procedures,
expedited treatment and standard treatment. To determine which treatment
applies, you may use the following chart:

If
*  *  *

Then OTS will process
your
application under  *  *  *

(a) The applicable
regulation does not specifically state that expedited treatment is
available

Standard treatment.

(b) You are not a savings
association

Standard treatment.

(c) Your composite rating
is 3, 4, or 5. The composite rating is the composite numeric rating
that OTS or the other federal banking regulator assigned to you
under the Uniform Financial Institutions Rating System1or
under a comparable rating system. The composite rating refers to the
rating assigned and provided to you, in writing, as a result of the
most recent examination

Standard treatment.

(d) Your Community
Reinvestment Act (CRA) rating is Needs to Improve or Substantial
Noncompliance. The CRA rating is the Community Reinvestment Act
performance rating that OTS or the other federal banking regulator
assigned and provided to you, in writing, as a result of the most
recent compliance examination. See, for example, §563e.28
of this chapter

Standard treatment.

(e) Your compliance rating
is 3, 4, or 5. The compliance rating is the numeric rating that OTS
or the other federal banking regulator assigned to you under OTS
compliance rating system, or a comparable rating system used by the
other federal banking regulator. The compliance rating refers to the
rating assigned and provided to you, in writing, as a result of the
most recent compliance examination

Standard treatment.

(f) You fail any one of
your capital requirements under part 567 of this chapter

Standard treatment.

(g) OTS has notified you
that you are an association in troubled condition

Standard treatment.

(h) Neither OTS nor any
other federal banking regulator has assigned you a composite rating,
a CRA rating or a compliance rating

Standard treatment.

(i) You do not meet any of
the criteria listed in paragraphs (a) through (h) of this section

Expedited
treatment.

1A savings association may obtain a copy of
its composite rating from the appropriate Regional Office.

[66 FR 13000, Mar. 2, 2001]

§ 516.10   How does OTS compute time periods under
this part?

top

In computing time periods under this part, OTS does not include the day
of the act or event that commences the time period. When the last day of a
time period is a Saturday, Sunday, or Federal holiday, the time period
runs until the end of the next day that is not a Saturday, Sunday, or
Federal holiday.

[66 FR 13000, Mar. 2, 2001]

Subpart A—Pre-Filing and Filing Procedures

top

Source:   66 FR 13000, Mar. 2, 2001,
unless otherwise noted.

Pre-Filing Procedures

top

§ 516.15   Must I meet with OTS before I file my
application?

top

(a) Chart. To determine whether you must attend a pre-filing
meeting before you file an application, please consult the following
chart:

If you file
*  *  *

Then
*  *  *

(1) An application for
permission to organize a de novo federal savings
association

You must meet with OTS before filing
your application. You must submit a draft business plan before this
meeting.

(2) An application to
convert an existing insured depository institution (other than a
state-chartered savings association or a state-chartered savings
bank) or a credit union to a federal savings association

You must meet with OTS before filing
your application. OTS may require you to submit a draft business
plan or other relevant information before this meeting.

(3) An application to
acquire control of a savings association

OTS may require you to meet with OTS
before filing your application and may require you to submit a draft
business plan or other relevant information before this
meeting.

(b) Contacting the Regional Office. (1) You must contact the
appropriate Regional Office a reasonable time before you file an
application described in paragraph (a) of this section. Unless paragraph
(a) already requires a pre-filing meeting or a draft business plan, the
Regional Office will determine whether it will require a pre-filing
meeting, and whether you must submit a business plan or other relevant
information before the meeting. The Regional Office will also establish a
schedule for any meeting and the submission of any information.

(2) All other applicants are encouraged to contact the appropriate
Regional Office to determine whether a pre-filing meeting or the
submission of a draft business plan or other relevant information would
expedite the application review process.

§ 516.20   What information must I include in my
draft business plan?

top

If you must submit a draft business plan under §516.15, your plan
must:

(a) Clearly and completely describe the savings association's projected
operations and activities;

(b) Describe the risks associated with the transaction and the impact
of this transaction on any existing activities and operations of the
savings association, including financial projections for a minimum of
three years;

(c) Identify the majority of the proposed board of directors and the
key senior executive officers (as defined in §563.555 of this chapter) of
the savings association and demonstrate that these individuals have the
expertise to prudently manage the activities and operations described in
the savings association's draft business plan; and

(d) Demonstrate how applicable requirements regarding serving the
credit and lending needs in the market areas served by the savings
association will be met.

Filing Procedures

§ 516.25   What type of application must I
file?

top

(a) Expedited treatment. If you are eligible for expedited
treatment under §516.5, you may file your application in the form of a
notice that includes all information required by the applicable
substantive regulation. If OTS has designated a form for your notice, you
must file that form. Your notice is an application for the purposes of all
statutory and regulatory references to “applications.”

(b) Standard treatment. If you are subject to standard treatment
under §516.5, you must file your application following all applicable
substantive regulations and guidelines governing the filing of
applications. If OTS has a designated form for your application, you must
file that form.

(c) Waiver requests. If you want OTS to waive a requirement that
you provide certain information with the notice or application, you must
include a written waiver request:

(1) Describing the requirement to be waived and

(2) Explaining why the information is not needed to enable OTS to
evaluate your notice or application under applicable standards.

§ 516.30   What information must I provide with my
application?

top

(a) Required information. You may obtain information about
required certifications, other regulations and guidelines affecting
particular notices and applications, appropriate forms, and instructions
from any OTS Regional Office. You may also obtain forms and instructions
on OTS's web page at www.ots.treas.gov.

(b) Captions and exhibits. You must caption the original
application and required copies with the type of filing, and must include
all exhibits and other pertinent documents with the original application
and all required copies. You are not required to include original
signatures on copies if you include a copy of the signed signature page or
the copy otherwise indicates that the original was signed.

§ 516.35   May I keep portions of my application
confidential?

top

(a) Confidentiality. OTS makes submissions under this part
available to the public, but may keep portions of your application
confidential based on the rules in this section.

(b) Confidentiality request. (1) You may request OTS to keep
portions of your application confidential. You must submit your request in
writing with your application and must explain in detail how your request
is consistent with the standards under the Freedom of Information Act (5
U.S.C. 552) and part 505 of this chapter. For example, you should explain
how you will be substantially harmed by pubic disclosure of the
information. You must separately bind and mark the portions of the
application you consider confidential and the portions you consider
non-confidential.

(2) OTS will not treat as confidential the portion of your application
describing how you plan to meet your Community Reinvestment Act (CRA)
objectives. OTS will make information in your CRA plan, including any
information incorporated by reference from other parts of your
application, available to the public upon request.

(c) OTS determination on confidentiality. OTS will determine
whether information that you designate as confidential may be withheld
from the public under the Freedom of Information Act (5 U.S.C. 552) and
part 505 of this chapter. OTS will advise you before it makes information
you designate as confidential available to the public.

§ 516.40   Where do I file my
application?

top

(a) Regional Office. (1) You must file the original application
and the number of copies indicated on the applicable form with the
applications filing division of the appropriate OTS Regional Office. You
should address the filings to “Attn: Applications Filing Room” at the
Regional address listed in paragraph (a)(2) of this section. If the form
does not indicate the number of copies you must file or if OTS has not
prescribed a form for your application, you must file the original
application and two copies.

(2) The addresses of each Regional Office and the states covered by
each office are:

Region

Office address

States served

Northeast

Office of Thrift Supervision,
Harborside Financial Center Plaza Five, Suite 1600, Jersey City, New
Jersey 07311

Connecticut, Delaware, Maine,
Massachusetts, New Hampshire, New Jersey, New York, Ohio,
Pennsylvania, Rhode Island, Vermont, West Virginia

Southeast

Office of Thrift Supervision, 1475
Peachtree Street, N.E., Atlanta, Georgia 30309 (Mail to: P.O. Box
105217, Atlanta, Georgia 30348–5217)

Alabama, District of Columbia,
Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan,
North Carolina, Puerto Rico, South Carolina, Virginia, the Virgin
Islands.

Midwest

Office of Thrift Supervision, 225 E.
John Carpenter Freeway, Suite 500, Irving, Texas 75062–2326 (Mail
to: P.O. Box 619027, Dallas/Ft. Worth, Texas 75261–9027)

Arkansas, Iowa, Kansas, Louisiana,
Mississippi, Missouri, Nebraska, Oklahoma, Tennessee, Texas,
Wisconsin.

West

Office of Thrift Supervision,
Pacific Plaza, 2001 Junipero Serra Boulevard, Suite 650, Daly City,
California 94014–1976 (Mail to: P.O. Box 7165, San Francisco,
California 94120–7165)

Alaska, Arizona, California,
Colorado, Guam, Hawaii, Idaho, Montana, Nevada, New Mexico, North
Dakota, Northern Mariana Islands, Oregon, South Dakota, Utah,
Washington, Wyoming.

(b) Additional filings with OTS Headquarters. (1) In addition to
filing in the Regional Office, if your application involves a significant
issue of law or policy or if an applicable regulation or form directs you
to file with OTS Headquarters, you must also file copies of your
application with the Applications Filing Room at OTS headquarters, 1700 G
Street, NW., Washington, DC 20552. You must file the number of copies
indicated on the applicable form. If the form does not indicate the number
of copies you must file or if OTS has not prescribed a form for your
application, you must file three copies.

(2)(i) You may obtain a list of applications involving significant
issues of law or policy at the OTS website at www.ots.treas.gov or
by contacting a Regional Office.

(ii) OTS reserves the right to identify significant issues of law or
policy in a particular application. OTS will advise you, in writing, if it
makes this determination.

[66 FR 13000, Mar. 2, 2001, as amended at 66 FR 65820, Dec. 21, 2001;
67 FR 78152, Dec. 23, 2002; 69 FR 76602, Dec. 22, 2004]

§ 516.45   What is the filing date of my
application?

top

(a) Your application's filing date is the date that you complete all of
the following requirements.

(1) You attend a pre-filing meeting and submit a draft business plan or
relevant information, if OTS requires you to do so under §516.15.

(2) You file your application and all required copies with OTS, as
described under §516.40.

(i) If you are required to file with a Regional Office and with OTS
Headquarters, you have not filed with OTS until you file with both
offices.

(ii) You have not filed with a Regional Office or OTS Headquarters
until you file the application and the required number of copies with that
office.

(iii) If you file after the close of business established by a Regional
Office or OTS Headquarters, you have filed with that office on the next
business day.

(3) You pay the applicable fee. You have not paid the fee until you
submit the fee to the appropriate Regional Office, or OTS waives the fee.
You may pay by check, money order, cashier's check or wire transfer
payable to OTS.

(b) OTS may notify you that it has adjusted your application filing
date if you fail to meet any applicable publication requirements.

(c) If, after you properly file your application with the Regional
Office, OTS determines that a significant issue of law or policy exists
under §516.40(b)(2)(ii), the filing date of your application is the day
you filed with the Regional Office. The 30-day review period under
§§516.200 or 516.210 of this part will restart in its entirety when the
Regional Office forwards the appropriate number of copies of your
application to OTS Headquarters.

§ 516.47   How do I amend or supplement my
application?

top

To amend or supplement your application, you must file the amendment or
supplemental information at the appropriate OTS office(s) along with the
number of copies required under §516.40. Your amendment or supplemental
information also must meet the caption and exhibit requirements at
§516.30(b).

Subpart B—Publication Requirements

top

Source:   62 FR 64143, Dec. 4, 1997,
unless otherwise noted.

§ 516.50   Who must publish a public notice of an
application?

top

This subpart applies whenever an OTS regulation requires an applicant
(“you”) to follow the public notice procedures in this subpart.

§ 516.55   What information must I include in my
public notice?

top

Your public notice must include the following:

(a) Your name and address.

(b) The type of application.

(c) The name of the depository institution(s) that is the subject
matter of the application.

(d) A statement indicating that the public may submit comments to the
appropriate OTS office(s).

(e) The address of the appropriate OTS offices where the public may
submit comments.

(f) The date that the comment period closes.

(g) A statement indicating that the nonconfidential portions of the
application are on file in the Regional Office, and are available for
public inspection during regular business hours.

(h) Any other information that OTS requires you to publish. You may
find the format for various publication notices in the appendix to OTS
application processing handbook.

[66 FR 13002, Mar. 2, 2001]

§ 516.60   When must I publish the public
notice?

top

You must publish a public notice of the application no earlier than
seven days before and no later than the date of filing of the
application.

§ 516.70   Where must I publish the public
notice?

top

You must publish the notice in a newspaper having a general circulation
in the communities indicated in the following chart:

If you file . . .

You must publish in the following
communities . . .

(a) An application for
permission to organize under §543.2 of this chapter, a Bank Merger
Act application under 563.22(a) of this chapter, an application to
convert to is a federal charter under §543.8 or §552.2–6 of this
chapter, or an application for a mutual to stock conversion under
part 563b of this chapter . . .

The community in which your home
office is located.

(b) An application to
establish a branch office under §545.95 of this chapter . . .

The community to be served by the
branch office.

(c) An application for the
change of permanent location of a home or branch office under
§545.95 of this chapter . . .

The community in which the existing
office is located and the community to be served by the new
office.

(d) A holding company
application or a change of control notice under part 574 of this
chapter . . .

The community in which the home
office of the savings association whose stock is to be acquired is
located and, if applicable, the community in which the home office
of the acquiror's largest subsidiary savings association is
located.

[69 FR 68246, Nov. 24, 2004]

§ 516.80   What language must I use in my
publication?

top

(a) English. You must publish the notice in a newspaper printed
in the English language.

(b) Other than English. If the OTS determines that the primary
language of a significant number of adult residents of the community is a
language other than English, the OTS may require that you simultaneously
publish additional notice(s) in the community in the appropriate
language(s).

Subpart C—Comment Procedures

top

Source:   62 FR 64144, Dec. 4, 1997,
unless otherwise noted.

§ 516.100   What does this subpart do?

top

This subpart contains the procedures governing the submission of public
comments on certain types of applications or notices (“applications”)
pending before the OTS. It applies whenever a regulation incorporates the
procedures in this subpart, or where otherwise required by the OTS.

§ 516.110   Who may submit a written
comment?

top

Any person may submit a written comment supporting or opposing an
application.

[62 FR 64144, Dec. 4, 1997, as amended at 66 FR 13003, Mar. 2,
2001]

§ 516.120   What information should a comment
include?

top

(a) A comment should recite relevant facts, including any demographic,
economic, or financial data, supporting the commenter's position. A
comment opposing an application should also:

(1) Address at least one of the reasons why OTS may deny the
application under the relevant statute or regulation;

(2) Recite any relevant facts and supporting data addressing these
reasons; and;

(3) Address how the approval of the application could harm the
commenter or any community.

(b) A commenter must include any request for a meeting under §516.170
in its comment. The commenter must describe the nature of the issues or
facts to be discussed and the reasons why written submissions are
insufficient to adequately address these facts or issues.

[66 FR 13003, Mar. 2, 2001, as amended at 69 FR 68247, Nov. 24,
2004]

§ 516.130   Where are comments filed?

top

A commenter must file with the appropriate OTS Regional Office (See
table at §516.40(a)(2)). The commenter must simultaneously send a copy of
the comment to the applicant.

[66 FR 13003, Mar. 2, 2001]

§ 516.140   How long is the comment
period?

top

(a) General. Except as provided in paragraph (b) of this
section, a commenter must file a written comment with OTS within 30
calendar days after the date of publication of the initial public
notice.

(b) Late-filed comments. OTS may consider late-filed comments if
OTS determines that the comment will assist in the disposition of the
application.

[69 FR 68247, Nov. 24, 2004]

Subpart D—Meeting Procedures

top

Source:   69 FR 68247, Nov. 24, 2004,
unless otherwise noted.

§ 516.160   What does this subpart do?

top

This subpart contains meeting procedures. It applies whenever a
regulation incorporates the procedures in this subpart, or when otherwise
required by OTS.

§ 516.170   When will OTS conduct a meeting on an
application?

top

(a) OTS will grant a meeting request or conduct a meeting on its own
initiative, if it finds that written submissions are insufficient to
address facts or issues raised in an application, or otherwise determines
that a meeting will benefit the decision-making process. OTS may limit the
issues considered at the meeting to issues that OTS decides are relevant
or material.

(b) OTS will inform the applicant and all commenters requesting a
meeting of its decision to grant or deny a meeting request, or of its
decision to conduct a meeting on its own initiative.

(c) If OTS decides to conduct a meeting, OTS will invite the applicant
and any commenters requesting a meeting and raising an issue that OTS
intends to consider at the meeting. OTS may also invite other interested
persons to attend. OTS will inform the participants of the date, time,
location, issues to be considered, and format for the meeting a reasonable
time before the meeting.

§ 516.180   What procedures govern the conduct of
the meeting?

top

(a) OTS may conduct meetings in any format including, but not limited
to, a telephone conference, a face-to-face meeting, or a more formal
meeting.

(b) The Administrative Procedure Act (5 U.S.C. 551 et seq. ),
the Federal Rules of Evidence (28 U.S.C. Appendix), the Federal Rules of
Civil Procedure (28 U.S.C. Rule 1 et seq. ) and the OTS Rules of
Practice and Procedure in Adjudicatory Proceedings (12 CFR part 509) do
not apply to meetings under this section.

§ 516.185   Will OTS approve or disapprove an
application at a meeting?

top

OTS will not approve or deny an application at a meeting under this
subpart.

§ 516.190   Will a meeting affect application
processing time frames?

top

If OTS decides to conduct a meeting, it may suspend applicable
application processing time frames, including the time frames for deeming
an application complete and the applicable approval time frames in subpart
E of this part. If OTS suspends applicable application processing time
frames, the time period will resume when OTS determines that a record has
been developed that sufficiently supports a determination on the issues
considered at the meeting.

Subpart E—OTS Review

top

Source:   66 FR 13003, Mar. 2, 2001,
unless otherwise noted.

Expedited Treatment

top

§ 516.200   If I file a notice under expedited
treatment, when may I engage in the proposed activities?

top

If you are eligible for expedited treatment and you have appropriately
filed your notice with OTS, you may engage in the proposed activities upon
the expiration of 30 days after the filing date of your notice, unless OTS
takes one of the following actions before the expiration of that time
period:

(a) OTS notifies you in writing that you must file additional
information supplementing your notice. If you are required to file
additional information, you may engage in the proposed activities upon the
expiration of 30 calendar days after the date you file the additional
information, unless OTS takes one of the actions described in paragraphs
(b) through (d) of this section before the expiration of that time
period;

(b) OTS notifies you in writing that your notice is subject to standard
treatment under this subpart. OTS will subject your notice to standard
treatment if it raises a supervisory concern, raises a significant issue
of law or policy, or requires significant additional information;

(c) OTS notifies you in writing that it is suspending the applicable
time frames under §516.190; or

(d) OTS notifies you that it disapproves your notice.

Standard Treatment

top

§ 516.210   What will OTS do after I file my
application?

top

(a) OTS action. Within 30 calendar days after the filing date of
your application, OTS will take one of the following actions:

If OTS
*  *  *

Then
*  *  *

(1) Notifies you, in
writing, that your application is complete
*  *  *

The applicable review period will
begin on the date that OTS deems your application complete.

(2) Notifies you, in
writing, that you must submit addition information to complete your
application  *  *  *

You must submit the required
additional information under §516.220.

(3) Notifies you, in
writing, that your application is materially deficient
*  *  *

OTS will not process your
application.

(4) Takes no action
*  *  *

Your application is deemed complete.
The applicable review period will begin on the day the 30-day time
period expires.

(b) Waiver requests. If your application includes a request for
waiver of an information requirement under §516.25(b), and OTS has not
notified you that you must submit additional information under paragraph
(a)(2) of this section, your request for waiver is granted.

§ 516.220   If OTS requests additional information
to complete my application, how will it process my application?

top

(a) You may use the following chart to determine the procedure that
applies to your submission of additional information under
§516.210(a)(1):

If, within 30 calendar days after
the date of OTS's request for additional information
*  *  *

Then, OTS may
*  *  *.

And
*  *  *.

(1) You file a response to
all information requests  *  *  *

(i) Notify you in writing within 15
days after the filing date of your response that your application is
complete  *  *  * applicable to all
response that your application is complete
*  *  *

The applicable review period will
begin on the date tha t OTS deems your application complete.

(ii) Notify you in writing within 15
calendar days after the filing date of your response that you must
submit additional information regarding matters derived from or
prompted by information already furnished or any additional
information information necessary to resolve the issues presented in
your application  *  *  *

You must respond to the additional
information request within the time period required by OTS. OTS will
review your response under the procedures described in this
section.

(iii) Notify you in writing within
15 calendar days after the filing date of your response that your
application is materially deficient
*  *  *

OTS will not process your
application.

(iv) Take no action within 15
calendar days after the filing date of your response
*  *  *

Your application is deemed complete.
The applicable review period will begin on the day that the 15-day
time period expires.

(2) You request an
extension of time to file additional information
*  *  *

(i) Grant an extension, in writing,
specifying the number of days for the extension
*  *  *

You must fully respond within the
extended time period specified by OTS. OTS will review your response
under the procedures described under this section.

(ii) Notify you in writing that your
extension request is disapproved
*  *  *

OTS will not process your
application further. You may resubmit the application for processing
as a new filing under the applicable regulation.

(3) You fail to respond
completely  *  *  *

(i) Notify you in writing that your
application is deemed withdrawn  *  *  *

OTS will not process your
application further. You may resubmit the application for processing
as a new filing under the applicable regulation.

(ii) Notify you, in writing, that
your response is incomplete and extend the response period,
specifying the number of days for the respond extension
*  *  *

You must fully respond within the
extended time period specified by OTS. OTS will review your response
under the procedures described under this
section.

(b) OTS may extend the 15-day period referenced in paragraph (a)(1) of
this section by up to 15 calendar days, if OTS requires the additional
time to review your response. OTS will notify you that it has extended the
period before the end of the initial 15-day period and will briefly
explain why the extension is necessary.

(c) If your response filed under paragraph (a)(1) of this section
includes a request for a waiver of an informational requirement, your
request for a waiver is granted if OTS fails to act on it within 15
calendar days after the filing of your response, unless OTS extends the
review period under paragraph (b). If OTS extends the review period under
paragraph (b), your request is granted if OTS fails to act on it by the
end of the extended review period.

[66 FR 13003, Mar. 2, 2001; 67 FR 3264, Jan. 23, 2002]

§ 516.230   Will OTS conduct an eligibility
examination?

top

(a) Eligibility examination. OTS may notify you at any time
before it deems your application complete that it will conduct an
eligibility examination. If OTS decides to conduct an eligibility
examination, it will not deem your application complete until it concludes
the examination.

(b) Additional information. OTS may, as a result of the
eligibility examination, notify you that you must submit additional
information to complete your application. If so, you must respond to the
additional information request within the time period required by OTS. OTS
will review your response under the procedures described in
§516.220.

§ 516.240   What may OTS require me to do after my
application is deemed complete?

top

After your application is deemed complete, but before the end of the
applicable review period,

(a) OTS may require you to provide additional information if the
information is necessary to resolve or clarify the issues presented by
your application.

(b) OTS may determine that a major issue of law or a change in
circumstances arose after you filed your application, and that the issue
or changed circumstances will substantially effect your application. If
OTS identifies such an issue or changed circumstances, it may:

(1) Notify you, in writing, that your application is now incomplete and
require you to submit additional information to complete the application
under the procedures described at §516.220; and

(2) Require you to publish a new public notice of your application
under §516.250.

§ 516.250   Will OTS require me to publish a new
public notice?

top

(a) If your application was subject to a publication requirement, OTS
may require you to publish a new public notice of your application if:

(1) You submitted a revision to the application, you submitted new or
additional information, or a major issue of law or a change in
circumstances arose after the filing of your application; and

(2) OTS determines that additional comment on these matters is
appropriate because of the significance of the new information or
circumstances.

(b) OTS will notify you in writing if you must publish a new public
notice of your revised application.

(c) If you are required to publish a new public notice of your revised
application, you must notify OTS after you publish the new public
notice.

§ 516.260   May OTS suspend processing of my
application?

top

(a) Suspension. OTS may, at any time, indefinitely suspend
processing of your application if:

(1) OTS, another governmental entity, or a self-regulatory trade or
professional organization initiates an investigation, examination, or
administrative proceeding that is relevant to OTS's evaluation of your
application;

(2) You request the suspension or there are other extraordinary
circumstances that have a significant impact on the processing of your
application.

(b) Notice. OTS will promptly notify you, in writing, if it
suspends your application.

§ 516.270   How long is the OTS review
period?

top

(a) General. The applicable OTS review period is 60 calendar
days after the date that your application is deemed complete, unless an
applicable OTS regulation specifies a different review period.

(b) Multiple applications. If you submit more than one
application in connection with a proposed action or if two or more
applicants submit related applications, the applicable review period for
all applications is the review period for the application with the longest
review period, subject to statutory review periods.

(c) Extensions. (1) OTS may extend the review period for up to
30 calendar days beyond the period described in paragraph (a) or (b) of
this section. OTS must notify you in writing of the extension and the
duration of the extension. OTS must issue the written extension before the
end of the review period.

(2) OTS may also extend the review period as needed until it acts on
the application, if the application presents a significant issue of law or
policy that requires additional time to resolve. OTS must notify you in
writing of the extension and the general reasons for the extension. OTS
must issue the written extension before the end of the review period,
including any extension of that period under paragraph (c)(1) of this
section. This section applies to applications and notices filed under
§575.3(b) and part 574 of this chapter.

§ 516.280   How will I know if my application has
been approved?

top

(a) OTS approval or denial. (1) OTS will approve or deny your
application before the expiration of the applicable review period,
including any extensions of the review period.

(2) OTS will promptly notify you in writing of its decision to approve
or deny your application.

(b) No OTS action. If OTS fails to act under paragraph (a)(1) of
this section, your application is approved.

§ 516.290   What will happen if OTS does not
approve or disapprove my application within two calendar years after the
filing date?

top

(a) Withdrawal. If OTS has not approved or denied your pending
application within two calendar years after the filing date under §516.45,
OTS will notify you, in writing, that your application is deemed withdrawn
unless OTS determines that you are actively pursuing a final OTS
determination on your application. You are not actively pursuing a final
OTS determination if you have failed to timely take an action required
under this part, including filing required additional information, or OTS
has suspended processing of your application under §516.260 based on
circumstances that are, in whole or in part, within your control and you
have failed to take reasonable steps to resolve these circumstances.

(b) Effective date. This section is effective July 1, 2001.

Browse
Previous | Browse
Next

For questions or comments regarding e-CFR
editorial content, features, or design, email [email-masked].

For questions
concerning e-CFR programming and delivery issues, email [email-masked].

Section
508 / Accessibility